Italy Population: 61,482,297

Italy became a nation-state in 1861 when the regional states of the peninsula, along with Sardinia and Sicily, were united under King Victor EMMANUEL II. An era of parliamentary government came to a close in the early 1920s when Benito MUSSOLINI established a Fascist dictatorship. His alliance with Nazi Germany led to Italy's defeat in World War II. A democratic republic replaced the monarchy in 1946 and economic revival followed. Italy is a charter member of NATO and the European Economic Community (EEC). It has been at the forefront of European economic and political unification, joining the Economic and Monetary Union in 1999. Persistent problems include sluggish economic growth, high youth and female unemployment, organized crime, corruption, and economic disparities between southern Italy and the more prosperous north.

regional risks include landslides, mudflows, avalanches, earthquakes, volcanic eruptions, flooding; land subsidence in Venice volcanism: significant volcanic activity; Etna (elev. 3,330 m), which is in eruption as of 2010, is Europe's most active volcano; flank eruptions pose a threat to nearby Sicilian villages; Etna, along with the famous Vesuvius, which remains a threat to the millions of nearby residents in the Bay of Naples area, have both been deemed "Decade Volcanoes" by the International Association of Volcanology and Chemistry of the Earth's Interior, worthy of study due to their explosive history and close proximity to human populations; Stromboli, on its namesake island, has also been continuously active with moderate volcanic activity; other historically active volcanoes include Campi Flegrei, Ischia, Larderello, Pantelleria, Vulcano, and Vulsini

18 years of age; universal (except in senatorial elections, where minimum age is 25)

Executive branch:

chief of state: President Giorgio NAPOLITANO (since 15 May 2006)

head of government: Prime Minister Enrico LETTA (since 17 April 2013); note - the prime minister is referred to as the President of the Council of Ministers

cabinet: Council of Ministers proposed by the prime minister and nominated by the President of the Republic (For more information visit the World Leaders website )

elections: president elected by an electoral college consisting of both houses of parliament and 58 regional representatives for a seven-year term (no term limits); election last held on 24-25 February 2013 (next to be held in 2020); prime minister appointed by the president and confirmed by parliament; note - elections were held in February, but resulted in a political stalemate to be determined by formal talks beginning in March; by mid-April 2013 no governing coaliton has been formed; on 18 April 2013 indirect elections for president were begun; on the sixth round Giorgio NAPOLITANO was elected president with 739 votes

election results: Giorgio NAPOLITANO elected president on the sixth round of voting; electoral college vote - 739

Legislative branch:

bicameral Parliament or Parlamento consists of the Senate or Senato della Repubblica (315 seats; members elected by proportional vote with the winning coalition in each region receiving 55% of seats from that region; members to serve five-year terms; and up to 5 senators for life appointed by the president of the Republic) and the Chamber of Deputies or Camera dei Deputati (630 seats; members elected by popular vote with the winning national coalition receiving 54% of chamber seats; members to serve five-year terms); note - it has not been clarified if each president has the power to designate up to five senators or if five is the number of senators for life who might sit in the Senate

elections: Senate - last held on 24-25 February 2013 (next to be held in 2018); Chamber of Deputies - last held on 24-25 February 2013 (next to be held in 2018)

highest court(s): Supreme Court of Cassation or Corte Suprema di Cassazione (organized into penal, civil, administrative, and military divisions, each with a president and several judges); Constitutional Court or Corte Costituzionale (consists of 15 judges) judge selection and term of office: Supreme Court judges appointed by the Superior Council of the Judiciary, headed by the president, to serve NA terms; Constitutional Court judges - 5 appointed by the president, 5 elected by parliament, 5 elected by select higher courts; judges serve up to 9 years)

Italy has a diversified industrial economy, which is divided into a developed industrial north, dominated by private companies, and a less-developed, highly subsidized, agricultural south, where unemployment is high. The Italian economy is driven in large part by the manufacture of high-quality consumer goods produced by small and medium-sized enterprises, many of them family-owned. Italy also has a sizable underground economy, which by some estimates accounts for as much as 17% of GDP. These activities are most common within the agriculture, construction, and service sectors. Italy is the third-largest economy in the euro-zone, but its exceptionally high public debt and structural impediments to growth have rendered it vulnerable to scrutiny by financial markets. Public debt has increased steadily since 2007, topping 126% of GDP in 2012, and investor concerns about the broader euro-zone crisis at times have caused borrowing costs on sovereign government debt to rise to euro-era records. During the second half of 2011 the government passed three austerity packages to reduce its budget deficit and help bring down borrowing costs. These measures included a hike in the value-added tax, pension reforms, and cuts to public administration. The government also faces pressure from investors and European partners to sustain its recent efforts to address Italy's long-standing structural impediments to growth, such as labor market inefficiencies and widespread tax evasion. In 2012 economic growth and labor market conditions deteriorated, with growth at -2.3% and unemployment rising to nearly 11%, with youth unemployment around 35%. The government has undertaken several reform initiatives designed to increase long-term economic growth. Italy's GDP is now 7% below its 2007 pre-crisis level.

note: Italy reports its data on public debt according to guidelines set out in the Maastricht Treaty; general government gross debt is defined in the Maastricht Treaty as consolidated general government gross debt at nominal value, outstanding at the end of the year, in the following categories of government liabilities (as defined in ESA95): currency and deposits (AF.2), securities other than shares excluding financial derivatives (AF.3, excluding AF.34), and loans (AF.4); the general government sector comprises the central government, state government, local government and social security funds